321 W 120th Street, Los Angeles, California 90061, Los Angeles, 90061 - 2 bed, 1 bath
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Los Angeles, California 90061
This LAR3 Zoned Development Asset represents a High-Potential Investment Opportunity listed at $500,000, which aligns with its $500,000 Fair Market Value. Marketed as a Major Fixer with a Poor Condition Rating, the property’s primary value is anchored by the 5,303 Sq Ft LAR3 Lot, offering significant density potential for multi-unit construction in a high-demand Los Angeles submarket. The Probate Sale status with no court confirmation required ensures an expedited transaction timeline. This "as-is" acquisition is a strategic play for Fix-and-Flip Investors or Developers ready to manage occupancy and execute a complete value-add rehabilitation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 321 W 120th Street Subject | $500,000* List Price | 2 | 1 | 1,200 | $417 | - |
A 315 W 120th Street Pending | $500,000 List Price | 3 | 1 | 956 | $523 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
This property, built in 1921, is explicitly marketed as a 'MAJOR FIXER' requiring 'Extensive Renovation.' It is being sold 'AS IS' with 'NO SELLER REPAIRS,' indicating significant defects and the need for substantial rehabilitation. The exterior image shows an old, unkempt structure consistent with a property in disrepair. Given its age and the description, all major systems (electrical, plumbing, HVAC), as well as the kitchen and bathroom, are undoubtedly outdated and in very poor condition, requiring complete overhaul or replacement. The property likely has significant issues affecting its safety and soundness, aligning with the 'poor' condition criteria.
Explicitly marketed as a 'Great Investor Opportunity,' appealing to buyers looking for value-add projects or development potential.
The 'NO COURT CONFIRMATION REQUIRED' status significantly streamlines the probate sale, reducing typical delays and uncertainties for the buyer.
Situated on an LAR3 lot, the property offers significant multi-family development potential, which can substantially increase its long-term value.
Described as a 'MAJOR FIXER,' indicating significant capital investment and effort will be needed for rehabilitation or redevelopment.
The property is sold 'AS IS' with 'NO SELLER REPAIRS,' placing the full burden of all necessary improvements and associated costs squarely on the buyer.
The property 'WILL NOT be delivered vacant,' presenting a substantial challenge for the buyer who will need to manage existing occupants, potentially incurring legal costs and delays for eviction or relocation.
PROBATE MAJOR FIXER. Great Investor Opportunity. * NO COURT CONFIRMATION REQUIRED*. Property sits on an LAR3 lot and and is to be sold "AS IS". NO SELLER REPAIRS. Property WILL NOT be delivered vacant.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 39% |
| Baths | 1.0 | 2.0 | 46% |
| Square foot | 1,200 | 1,177.5 | 57% |
| Lot Size | 5,303 | 5,683 | 29% |
| Price | $500.0K | $655.5K | 14% |
| Price per sq ft | $417 | $561 | 21% |
| Built year | 1921 | 1948 | 11% |
| HOA | $0 | $0 | 50% |
| Days on market | 1105 | 171 | 0% |
Apr 13, 2023
$500,000
Initial Listing